SoundExchange closed out 2013 with a record-setting distribution of $170.4 million to recording artists and record labels in the fourth quarter. Total year-end digital radio royalty payments reached an all-time high of $590.4 million, up 28% from 2012. Since launching 10 years ago, SoundExchange has paid out nearly $2 billion.
âWe processed tens of billions of digital performances in 2013 reported by thousands of music services every month. This is further proof that consumers are streaming digital radio now more than ever,â said SoundExchange President and CEO Michael Huppe in a statement. âWe are ensuring that digital radio listening is being converted into a reliable revenue stream for music creators.â
SoundExchange royalties are paid by 2,000+ non-interactive Internet radio, satellite radio and cable radio services for their use of sound recordings. These royalties are distributed by SoundExchange directly to the recording artists and record labels.